Fannie Mae-No Politics (FNMA)

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Geithner brags about 'nationalizing' the GSE's:

Mr. Boies asked whether Mr. Geithner had ever said the government “wiped out” AIG shareholders. Mr. Geithner acknowledged that he had used such a phrase, though he described it as inartful.

Mr. Boies entered into evidence some material that the former Treasury secretary had written when preparing notes for his book “Stress Test.”

In those notes, Mr. Geithner wrote “We had already effectively nationalized [mortgage-finance giants Fannie Mae and Freddie Mac] and AIG, and could decide how to carve up, dismember, sell or restructure those institutions.”

Geithner Testimony in AIG trial

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